• Binance US has filed a motion to limit the extent of discovery sought by the Securities and Exchange Commission (SEC) in its investigation against the company.
• The SEC had previously filed a lawsuit against Binance US alleging improper registration, which led to a consent order after the financial regulator sought to freeze assets belonging to Binance.
• In a late filing on Monday, the exchange claims that the regulator has exceeded the parameters of the consent agreement in its quest to carry out more investigations into the company without providing any evidence.
Binance US Seeks Protective Order Against Renewed SEC Probe
Binance US, the United States entity of digital asset exchange, Binance has filed a motion to limit the extent of discovery sought by the Securities and Exchange Commission (SEC) in its investigation against the company.
Background
The SEC filed a lawsuit against Binance US alleging improper registration, and commingling of user assets among others in June which later spilled into a consent order after the financial regulator sought to freeze assets belonging to the company trading under the name BAM Trading Services and BAM Management US Holdings.
Motion Filed by Binance
In a late filing on Monday, the exchange claims that the regulator has exceeded the parameters of the consent agreement in its quest to carry out more investigations into the operation of